Wildhorse Energy signs cooperation agreement with gov’t on UCG regulatory development
Australia's Wildhorse Energy on Wednesday said it signed a cooperation agreement with the Hungarian government to formalize the legislative and regulatory framework required to develop underground coal gasification (UCG) projects in Hungary.
"Both parties believe that this could provide Hungary with an opportunity to develop its extensive stranded coal reserves and potentially provide the blue print for UCG project development across Europe as governments seek to develop their own resources and establish energy independence," according to the statement.
"The potential for UCG to establish itself as an important technology in the region is increasingly being recognized due to its ability to capture the energy content from billions of tons of stranded coal assets in a ‘frack-free’ way," said Wildhorse Energy managing director Matt Swinney.
"As a result of the cooperation, Hungary is poised to become a regional leader in UCG with regards to the legislative framework and deep pool of required skills and expertise," Wildhorse Energy said.
Hungary Gasoline Prices 3% Over Regional Avg
Gov't Wants Sustainable Business Model for Magyar Posta
120,000 Guest Workers Employed in Hungary
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
